TFI International has acquired Missouri trucking company D&D Sexton in a deal that expands the temperature-controlled trucking business of the Canadian firm’s U.S. carrier CFI.
The acquisition, announced Monday, adds a fleet of over 120 tractors and more than 150 drivers. TFI (NYSE:TFII) did not disclose the price but said D&D had revenues of over $25 million.
Carthage, Missouri-based D&D will operate within CFI — headquartered in nearby Joplin. It follows a recent reorganization of CFI, which is also folding in key TFI U.S. operations including Transport America, TForce Freight dedicated and MCT.
Family-owned D&D specializes in refrigerated freight, doing a mix of long-haul, local and shuttle services. The acquisition represents a significant expansion of CFI’s temperature-controlled business, increasing its fleet size by more than 50%.
“D&D is an excellent strategic fit with the organization, culture and business model of our CFI operating company, adding strategic capacity and valuable, long-standing customer relationships to its temperature-controlled business,” TFI CEO Alain Bédard said in a statement.
D&D amounts to a small acquisition for the Montreal-based company, which has stayed away from major deals since it acquired UPS Freight earlier this year.
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- TFI needs drivers at leaner, meaner UPS Freight successor